Abbott Laboratories (NYSE:ABT) Expected to Announce Earnings of $1.34 Per Share

Wall Street analysts predict that Abbott Laboratories (NYSE:ABT) will post earnings per share of $1.34 for the current quarter, Zacks reports. Five analysts have made estimates for Abbott Laboratories’ earnings. The highest EPS estimate is $1.43 and the lowest is $1.26. Abbott Laboratories reported earnings per share of $0.65 in the same quarter last year, which indicates a positive year-over-year growth rate of 106.2%. The company is expected to issue its next earnings report on Thursday, April 15th.

According to Zacks, analysts expect that Abbott Laboratories will report full year earnings of $5.07 per share for the current financial year, with EPS estimates ranging from $5.00 to $5.24. For the next financial year, analysts forecast that the firm will post earnings of $5.33 per share, with EPS estimates ranging from $4.20 to $5.63. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Tuesday, January 26th. The healthcare product maker reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.10. The firm had revenue of $10.70 billion for the quarter, compared to analyst estimates of $9.94 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company’s quarterly revenue was up 28.7% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share.

A number of research analysts have recently issued reports on ABT shares. BTIG Research upgraded shares of Abbott Laboratories from a “neutral” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, January 28th. Raymond James boosted their target price on shares of Abbott Laboratories from $114.00 to $126.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. Credit Suisse Group boosted their target price on shares of Abbott Laboratories from $118.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. SVB Leerink boosted their price target on shares of Abbott Laboratories from $115.00 to $128.00 and gave the company a “market perform” rating in a research report on Thursday, January 28th. Finally, Wells Fargo & Company upped their target price on shares of Abbott Laboratories from $128.00 to $137.00 in a report on Thursday, January 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the company. Abbott Laboratories currently has an average rating of “Buy” and a consensus target price of $122.26.

ABT traded down $0.65 during midday trading on Thursday, hitting $121.90. The company had a trading volume of 63,180 shares, compared to its average volume of 5,381,432. Abbott Laboratories has a 52 week low of $61.61 and a 52 week high of $128.54. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $216.05 billion, a price-to-earnings ratio of 64.84, a PEG ratio of 2.06 and a beta of 0.83. The stock’s 50 day moving average price is $118.10 and its 200 day moving average price is $109.83.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 17th. Shareholders of record on Thursday, April 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $1.80 annualized dividend and a yield of 1.48%. Abbott Laboratories’s payout ratio is currently 55.56%.

In other Abbott Laboratories news, Director Phebe N. Novakovic sold 4,790 shares of the company’s stock in a transaction on Friday, December 4th. The shares were sold at an average price of $107.28, for a total value of $513,871.20. Following the completion of the transaction, the director now directly owns 34,446 shares in the company, valued at approximately $3,695,366.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Joseph J. Manning sold 18,750 shares of the company’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the completion of the transaction, the senior vice president now owns 81,561 shares of the company’s stock, valued at $10,014,875.19. The disclosure for this sale can be found here. Insiders have sold a total of 24,045 shares of company stock valued at $2,881,071 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Atlas Private Wealth Advisors raised its holdings in Abbott Laboratories by 107.3% in the 4th quarter. Atlas Private Wealth Advisors now owns 228 shares of the healthcare product maker’s stock worth $25,000 after purchasing an additional 118 shares in the last quarter. Inspire Advisors LLC bought a new position in Abbott Laboratories in the 4th quarter worth $29,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Abbott Laboratories in the 3rd quarter worth about $29,000. Price Wealth LLC increased its stake in shares of Abbott Laboratories by 63.6% in the 3rd quarter. Price Wealth LLC now owns 306 shares of the healthcare product maker’s stock worth $33,000 after acquiring an additional 119 shares in the last quarter. Finally, Black Swift Group LLC bought a new position in shares of Abbott Laboratories in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

Further Reading: How does a 12b-1 fee affect fund performance?

Get a free copy of the Zacks research report on Abbott Laboratories (ABT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.